A big positive for markets, if pending bills are passed in winter session: Sandip Sabharwal

In a chat with ET Now, Sandip Sabharwal, asksandipsabharwal.com, shares his views on winter session of Parliament. Excerpts:

ET Now: What are your expectations from the winter session of the parliament?

Sandip Sabharwal: One, if we see the overall market, it looks over extended. In fact if you look at it technically, on a monthly basis markets have never been so over bought since the time of the Harshad Mehta boom. It is an overbought situation that we see on the monthly charts, so a correction at some stage is imminent.

On the other hand, if you ask whether the passage of any of the bill is discounted I would say no because there have been so many false charts in the passage of these bills. If these bills actually get passed, it will be a big positive for the longer run.